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Bengaluru, June 24: City-based I Monetary Advisory (IMA), which duped thousands of families, mostly Muslims, in the name of halal investment, has become a bitter reality of "we were robbed by our own people". All the accused except its CEO Mohammad Mansoor Khan have been released on bail in this ponzi scam worth thousands of crores of rupees.
The scam has not only been investigated by SIT and CBI, but it has reverberated many times in the Assembly, corridors of power, and in the courts.
Around 80,000 investors are in trouble after the Monetary Advisory (IMA) scam came to light. Many investors have left this world, many families have split, many marriages have broken down and many have become unemployed, homeless, helpless and hapless. One of the senior IAS office, who had faced arrest in the scam, reportedly killed himself just a day ago.
It has been more than a year since this multi-billion scam came to light. But the affected families still do not see any ray of hope. The government, led by senior IAS officer Harsh Gupta, has set up a special competent authority to address investor grievances in the matter.
According to information provided by Harsh Gupta, investors have to be paid Rs 2,900 crore. But the value of the company's assets seized so far could be around Rs 450 crore. The process of auctioning the assets has not started yet. The authority has developed an online portal for submission of claim forms from investors. But the process of taking applications has not started yet. Syed Gulab, a social worker overseeing the case, says that after all the claim forms have been submitted, we will get a clear picture about the exact number of investors and the total amount of arrears. But this process may take a few more months to complete.
Senior journalist Maqbool Ahmed Siraj says that IMA has systematically deceived people in the name of halal investment through capital scheme. In 2006, Muhammad Mansoor Khan, a one-time small businessman, set up a company. He began to attract large number of investors by creating the greed for more profit among middle class and poor people.
By 2015, the company had received money from more than 12,000 investors and continued to pay monthly profits. By the time the company closed in 2019, 80,000 people had invested their hard-earned money here. In Bengaluru, the company expanded its reach by investing in two major gold showrooms, hospitals, schools, several medical stores, a publishing center, a supermarket, and real estate firm.
Mr Siraj says that Mansoor Khan and his team not only lured the poor and middle class to pursue their own interests but also created a favourable atmosphere for their so called business by winning the hearts of politicians, government officials, clerics, religious institutions and media.
Unsuspecting people invested their money in a bid to make more profit in less time. When the company stopped making profits and Mansoor Khan suddenly fled on June 9, 2019, the investors woke up the to the reality.
Apart from residents of Bengaluru and other parts of Karnataka, people from Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra other states also have invested their money.
Comments
ya kis ki hadiis lay kai ahyai hi. lanaat laanaat laanat ho Fatima a.s kay qatilu pai. maavya pai lanaat. yazeed par lanat aur ius ka chanay waloo pai lanat
Because there is om and moon star sign in a flag. People like viren kotian. Wont comment.
No real Muslim will hurt himself or hate others.......this is act of terror and cowardness
This practice is non-islamic and started by enemies of Islam.
THEY DEFINITELY DON'T REPRESENT ISLAM.
WE THANK ALLAH FOR GUIDING US TO HIS STRAIGHT PATH.
MAY ALLAH GUIDE THEM TO. AMEEN YA RABBAL ALAMEEN..
Really a pathetic. Uncultured way of behavior. No one can advice them. This is not ISLAM. None of the religion is having this type of act. I feel sorry about innocent children participating this type of worship. May Allah (swt) guide them in true path.
PEOPLE OF HELL.
Allah Ke Momin Bando, ye hamara farz hai ke hamain inko is jahalat se bahar nikale. Aaj ke tatrik me Islam ko hamse hi katra Hai. Jitna ho sakte utna Dawah ki kaam karo, Baki sab Allah pe chod do.
Aur media ko Asli Islam ki Robaro Karvao, take e propoganda nahi kare.
People are shedding the blood and the women are taking photos of the same. Really pathetic. What happened to their intellect? The non-Muslims thinks that this is part of Islam, and if this is the way people does, then they never want to come closer to Islam.
It is unislamic....and shirk.....very bad people
Really stupid. Is there any leader among them who can teach them about this evil practices? Why only martyrdom of grandsons of Prophet (pbuh), why not martyrdom of so many sahabas (p.b.u.t)???
Of course we have to mourn on the death of sahabas (p.b.u.t) but not this way, neither the sahabas (p.b.u.t) never did this way when their compatriot passed away, neither Prophet (p.bu.h) advised to do this way. Then where did these people get the idea of observing martyrdom in this way that we cannot find in the teachings of Islam? Obviously from other religions, may be from Judaism? Really shiaism is a black dot on the face of Islam.
Shaheedon ke naam pe Maatam Nahi manaya jatha hai ye sarasar galath hai
these are black dot on Isalm. Utterly Nonsense.
Prophet Muhammad pbuh said to fast on these days. it is better in the sight of ALLAH. and he never mentioned to harm ourselves as the shia do now a days.
Those do worship as per their desires and not keeping the word of Prophet Muhammad pbuh are a deviant sect.
Muslims believe in all prophets including Moses pbuh...
This day is the day when Moses defeated the mightiest army of his time with the miracle of ALLAH. the parting of the sea.
It is the better for a true muslims to FAST rather than following their own desire in worshiping the man made rituals.
Utter Nonsense!!
One piece of Advice, donate your BLOOD to the Blood Bank on this day instead of spilling it on the road, at least you could save a life or two, which make more sense.
Cheers!!!
Masjid ya Mandir!!!????
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